Using Fuzzy Models in Managerial Decision

Abstract

Decision-making plays an important part in management and business. There are numerous systematic methods and models which provide assistance in the decision-making process. Classical fuzzy sets (the concept of Fuzzy Set was introduced by Zadeh in 1965) and intuitionistic fuzzy sets (a concept introduced by Atanasov in 1986) represent powerful tools in modeling complex phenomena which exhibit shades of difference and involve imprecise information. The paper presents two algorithms for the consultation process using the Delphi Method and several algorithms for multi-attribute decision models, modified for attributes values given under the form of FS and/or IFS. The devised algorithms are analyzed comparatively using numeric examples.